On Oct. 9, during the Clio Cloud Conference in Nashville, the law practice management company Clio released the 2023 edition of its annual Legal Trends Report. Since it was first published in 2016, the report has established itself as a benchmark of the state of law practice and technology adoption among smaller law firms.

Among the findings in this year’s report were two pieces of particularly good news: Law firms have seen a remarkable increase in productivity in the years since that first report came out in 2016, and legal professionals are actively embracing technology to boost their efficiency and performance. This year’s report also introduces a new metric for measuring a law firm’s financial health: Lockup.

With much to unpack from this year’s Legal Trends Report, I sat down with Joshua Lenon, lawyer in residence at Clio and one of the principal members of the team that develops the report, to get all the details. They spoke in a live interview recorded during the Clio conference.

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Photo of Bob Ambrogi Bob Ambrogi

Bob is a lawyer, veteran legal journalist, and award-winning blogger and podcaster. In 2011, he was named to the inaugural Fastcase 50, honoring “the law’s smartest, most courageous innovators, techies, visionaries and leaders.” Earlier in his career, he was editor-in-chief of several legal publications, including The National Law Journal, and editorial director of ALM’s Litigation Services Division.